Joerg Hiller
Sep 27, 2024 16:58
BitMEX has revised the Mark Method for HMSTRUSDTU24 to a Fair Price marking approach, improving the robustness of the index and eliminating price protections.
BitMEX has made a notable announcement regarding the Mark Method for the HMSTRUSDTU24 contract, transitioning to Fair Price marking effective September 27, 2024, at 09:07 UTC, as detailed in the BitMEX Blog.
Reason for the Change
This adjustment was facilitated by the creation of a strong index that accurately captures the spot prices of HMSTR. The new index, referred to as .BHMSTRT, consolidates HMSTR prices from multiple leading exchanges, such as Bybit, OKX, Kucoin, Gate.io, and Binance.
Impact on Trading
As a result of this update, the Limit Down and Limit Up price protections have been lifted, which may result in increased price volatility while also offering potentially more accurate pricing that reflects current market conditions. Traders should take note of these adjustments and modify their strategies as needed.
Industry Context
This initiative by BitMEX is in line with broader movements within the cryptocurrency sector towards establishing clearer and more dependable pricing mechanisms. Other exchanges are similarly enhancing their price indices and risk management protocols to foster improved trading environments.
For inquiries or additional clarification, BitMEX has suggested that users visit their Support page.
Image source: Shutterstock
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